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tv   Power Lunch  CNBC  February 6, 2013 1:00pm-2:00pm EST

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thanks. that's the cold truth! no they don't. hey son. have fun tonight. ♪ ♪ back against the wall ♪ ain't nothin to me ♪ ain't nothin to me [ crowd murmurs ] hey! ♪ [ howls ] ♪ time now for the final trade. pete, you are up first. >> look at phillips 66 we talk about it all the time. >> huntsman, may 20 calls. a lot of buying there. i like this name. >> never at a loss for words.
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>> joe and i have talked about this. stillwater mining. the best way it play that site. >> ticker? >> swc. >> all right, look that one up. >> mjm. mead jorge posa mead johnson. >> i thought you were going to say something else. >> thanks all of you for watching. see you tomorrow. >> "halftime is over." power lunch and the second time of the trading day starts right now. >> scotty, thank you very much. so long to saturday's folks. u.s. post office ending saturday delivery of first class mail. if congress will go for it in but the move has major ram
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mications for business and for you. markets right now, pretty steady this hour. energy has been the leading sector in this recent rally. so are these still -- these stocks still a hot play or are they too hot to handle now? if you thought profits were the thing that is the only thing that ceos cared about, think again. we will tell what you is keeping top guys and girls up at night. my partner sue is up at the stock exchange. sue? >> hi, ty. money-losing u.s. postal service is ending saturday delivery of first class mail. all in an effort to trim costs. postmaster general speaking to cnbc about the move and ramifications for you and for business. pearson is in washington with the plan and political fall out. hampton, you're up first. >> losing about $36 million a day, cutting saturday first class delivery will save about
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$2 billion a year. it is really the best short term option right now for the postal service with losing $16 billion last year np in the past, congressman dated six day service. but right now, because the government is running on a temporary continuing resolution, that is opening the door for the postal service to act. >> it's our interpretation that the fact that we are with the pr paid for services already rendered, we can move ahead of this. again, there may be people that disagree, that's okay. when you have six or seven weeks to get it right, get it off the books and let's move ahead with the six day package and five day mail. >> a few blocks from where we are at capitol hill, service reform says taking this step is the right thing to do. congressman darrell issa spoke
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earlier today. >> stood good day for americans because this is a responsible action by the post office, understanding they've lost -- they're losing tens of billions of dollars each year. they have defaulted on over $11 billion of their obligation. so this money saving smart move is going to be a step in right-sizing the post office. >> now the postal service says about 70% of its customers support the idea of basically ending delivery service on saturday. however at the same time, they say they wouldn't be surprised if there was a lawsuit from say letter carriers or impacted businesses about this proposed change. tyler? >> hampton, thank you very much. speaking of those impacted businesses, what does this move mean for businesses that rely on saturday delivery? brian shactman has that part of
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the story. hi, brian. >> as stated, package delivery will remain in place and this is good for both companies. fedex much more closely aligned with the usps. shipping for them for more than a dozen years. fedex gets about $1.5 billion in revenue from the postal service. about a hundred million from ups. on the flip side, it has to be pointed out. fedex handles first class mail for postal service. so volume could be affected at fedex. this the past there's been talk of fedex taking over the package business. as hampton pointed out, that is the one business growing for the united states postal service. next, netflix. dvd as we know. not where their growth is, but still substantial. this will impact weekend viewing. consumers, we're just going to have to plan ahead better if you do get dvds by mail. greeting cards. hall mark, with revenue around $4 billion. they spent a quarter million lobbying issues last year.
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back in 2010 the ceo said this. short falls through price increases and reduction of service won't work, will make matters worse, excuse me, end quote. other companies potentially effected. american greetings, they compete with hall mark. rr donnelly and pitney bowes is up today. their stocks are up, a direct mail corporate printing business. and coming up later in closing bell, tyler, we will talk about the newspaper business and how they might be impacted by this move. back to you. >> brian shactman, thank you very much. with more on the short and long-term impact, joining us is christi crihristian wetherbee. what does this move mean for that company? >> i think ultimately it is
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about the mail on saturday. that's not really a market that fedex or ups competes in. it carries first class mail, ups on percentage basis, probably carries more relative to their total usps business. but i think ultimately, keeping packages, keeping package service on saturday is a little bit more impactful. if that were to have gone away, there could have been more volume flowing towards fedex or ups. >> which of these two stocks do you prefer at their current prices? >> at current prices we prefer fedex. we have a buy on fedex, we have a neutral on ups. we do have the strong benefiting both players. fedex has profit improvement plan under way with meaningful cost cuts which should generate better profits in their fiscal '14 which starts in a couple months. sue, down to you.
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>> take a lock at markets now. holding steady, down side by us since dow jones off about ten points or so on the trading session. steve grasso is with us. good to see you. >> good to see you. >> we aren't seeing a sell-off. we are seeing more consolidation. >> the other day when we chatted, we talked about the 1500 level. we still wined up above this level. so it is a huge mental level. the other day we learned that europe is still on the forefront of a lot of investors posts minds, but not overly preoccupied with the notion of the market selling off in the united states. >> what are you watching in terms of headline risks for this market right now? you mentioned europe. how high is that on your agenda for the market? >> it is a higher than it was. i thought we handled it. i'm not being facetious. i thought we handled the europe situation. i thought we stopped everything. i thought it was a nonissue.
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the other day it taught us, it is still there and still a risk. >> are you worried about washington? with the sequester moving large? >> you could have asked me that six months ago, i would have said it is a huge issue. but even though we do have divided government, it seems as though, maybe it doesn't look great but seems as though the president is getting his way. >> all right. >> so i guess at the end of the day, it is good for the market short term. day of reconing is still out there but who knows when it does eventually come. >> 001500 on the s&p. >> if we fail it is 1485. >> good to see you. >> good to see you, sue. >> we are watching jc penney. there it is. down to 19.19. the one-day anniversary of
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retail retailer. court courtney is at their headquarters in tfexas. >> reporter: we talked about the tough year that it has been in the first year of the transformation. this is just days after johnson reintroduced targeted sales after taking a really hard line and saying that sale was no long ear part of jc penney voe kak larry, reaffirming that jc penney would return to growth in 2013. that is important for investors still hanging off on after the company lost in market cap since february 1st of this past year. he said if he had to do it over again, he would have done it by changing a if you tactics. wall street is starting to worry about cash. early on, johnson said he would be able to self fund the
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transformation from start to finish without tapping into the revolving line of credit. i asked johnson if that is still true. >> with the cash we have on hand, we have yet to tap into the revolver. it doesn't mean we wouldn't at some point. >> and that's the first time that johnson has alluded to the fact that it is possible that at some point if needed, jc penney would tap into that revolving line of credit. wall street will find out exactly how much cash is on hand when we hear from the company for fourth quarter a 5er7bings in just a couple weeks from now and after the interview, sue, i asked johnson about the fact he still lives in california when the company is based here in texas with stock down more than 50%. does he still feel it is okay that he doesn't live here with the employees. and he said, i'm here more than i spend time anywhere else. i think that they actually like it when i leave. sue? >> very interesting to say the least. courtney, thank you very much. yeah. he drives a hard bargain in
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trying to turn that company around. another retailer on the move, ralph lauren. reporting higher sales during the holiday period. with higher sales in north america and improvement. the company now expects a bigger improvement in its operating profits for theier than initially projected. investors are taking notice and ralph lauren is up on the trading session at $176.32 a share. now with market flash, hi, josh. >> hey, sue. dow transports may have hit a record high yesterday but not every transportation company is enjoying the party. check out the trucking and logistics company. it is getting crushed here today. the worst performer. lower than expected adjusted quarterly profits. analyst, they are not happy. the ones at bank of america cut to underperform and slash price targets to 60 bucks. tyler, over to you.
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>> josh, thank you very much. energy stocks have been the leaders in this recent rally. so are the stocks still a smart play. or are they overplayed? one top street analyst is going to give us his top picks and ways to invest right now. and could these rising energy prices kill or dampen the fragile economic recovery. we will explain that when "power lunch" returns.
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welcome back to "power lunch." rick santelli here. going nowhere quickly, yesterday upside yields. today is reversing now. week and a half chart shows you we are in a six basis closing range. last week and a half, 95 to 201. today, two-day chart up again. eight-year chart, close to eight-year highes. why? china is recovering and importing more. and less ka pass knit north american lumber over the last five years. tyler, back to you. >> very interesting, rick. thank you very much. from bonds and lumber, the commodity to some other commodities. energy is the leading sector in the recent stock market run-up. while investors are cashing in, consumers of course feeling a bit of the pinch. sharon epperson with the winners and losers. hi, sharon. >> hi, tyler.
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we have seen them have gains in the last month of 20 to 30% or more and they are can capitalizing on the growth we have seen in unconventional oil, in oil sands and shale oil in the middle part of the country. it is what gates calls refining renaissance and u.s. refiners are able to produce gasoline more cheaply than elsewhere in the world. that's because the price of u.s. oil right now is just above $96 a barrel. compare that to crude prices from the north sea which is near $116 a barrel. that is $20 discount. the widest we have seen this year and it is makesing gasoline a lot cheaper than it is in other countries. east coast refineries, like new jersey refineries, are shutting down. in the middle part of the country, refineries like the largest one in the midwest from bp spending billions of dollars to expand the refinery so they are able to capitalize on the
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canadian and u.s. oil in that country. shut downs we are seeing and plan maintenance and repairs at refineries around the country caused a tightness of supply on the east and west coast. this is trackeling down to the biggest losers in all this. that of course is the consumer. higher prices at the pump are a result as traders here behind me are bidding up the price of gasoline futures. that is having impact on prices at the pump which are now over $3.50 a gallon. if prices stay this high, economists say we could see a significant impact on economic growth and the small recovery that we have been experiencing. sue, back to you. >> sharon, thank you very much. as we mentioned, energy is the leading sector, but are the stocks still a hot play or are they a bit overdone? one of the big experts on this area on the street joins us. good to see you, paul. usually by satellite. nice to have you on the set with us. >> you're one of the smartest guys on the street when it comes
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to this sector. no pressure now. no pressure. the basic question we are posing right now is, is there still more room given the big move? you seem to feel that there is. >> yeah. we are looking at a goldy locks situation. what we want are gently rising oil prices. if we get that we have gently rising gdp in the economy and performance of the s&p. that's the call we made at the start of the year. it's been working well without getting too extreme, i believe, which is what we worry about. >> is the strength u.s. economic strength or from the middle east? >> we have a great story here, the exportive oil products going on from the u.s. and that oil, we don't know where it goes or it is going basically to africa and europe for reexport. everything we look at say this is an emerging market given the strength in oil. >> nevertheless, you have to be careful what stocks you put in
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your portfolio. tell me why you like some better than others. you would not favor chevron, i believe, over exxon. why? >> once you decide whether you are underweight or overweight, it becomes straight forward. so obviously if you are just wanting to buy all exposure, you could buy exxon. but if you want more direct exposure to the oil prices and strength, chevron is more lever to oil prices. it has more branch exposure, like natural gas. and exxon of course, has the biggest -- >> has the biggest there. >> you also like hes. >> that's right. they outperform when oil does well on the market and that's what we have seen this year hp h hess is interesting because we have someone coming in to shake things up.
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>> give me one refiner that you like. >> love holly, loved it for years. very well exposed to the crude we see in the rockies. good oil demand in the rockies as well. better economy out there. >> very quickly, how much higher do you think oil will move because you have a pick on the euro as well. deutsche bank does anyway. >> yeah, interesting deutsche is calling for the euro dollar move. which would imply it is going higher. and the dollar strengthens here. anything more than 120 is a problem for all of us. people are talking about gasoline prices but gasoline prices haven't gone up as much as crude. i think we are getting into the concern once we are above 120. a gentle out performance against the market and that is plenty for us. >> thank you, paul. you you have to come back very soon. >> sure. >> big week for media earnings is upon us. our julia boorstin spoke
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♪ we call this, battle of the titans. buying virgin media for about $23 billion. there will be expensive contracts like english premier league soccer. explaining that it is more about expanding the presence in europe than shaking up british-paid tv. virgin media has 4.9 versus
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bsk's 10.7. liberty global is now better than 3 1/3 percent. >> time warner sticking with media. beating forecast the company increased dividend by 11% and authorized a new $4 billion stock buy back. the stock is trading 32.32 higher better than 4% at 52.28. julia boorstin sat down with the time warner ceo, jeff fucas. >> he tells me that most profitable division are well positioned both in the u.s. and internationally and he says that they will benefit from increased viewing on mobile device chess is a big trend. he said he is not concerned about netflix saying it will take a while mr. netflix can become a threat. meanwhile saying he is
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optimistic that bringing in tv veteran jeff ducker will turn it around. >> i think there is tremendous new energy at cnn, inspire bid how strong we are internationally. cnn international, and on-line. cnn on-line a big suck sees. and we are trying to integrate those more. there is a lot we can do here. almost like a once in a lifetime opportunity facing cnn. >> those bewkes doesn't expect things to grow fast he is excited about the opportunity and in particular time warner's position. >> we don't have a lot of advertising or earning exposure. we are very spread out around the rest of the world. we have about a third of our revenue is global, not u.s.-based. a lot of it is subscription based, so it is very stable. and time warner has a down time
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in any major industrial. we are more resilient than most competition because we are more focused on network earnings and is up skripgs support than advertising. we always do better in down time. >> can you find my entire interview with jeff bewkes along with additionat answers about what his plans are in terms of what he is going to o do with his building we are in right now and what he will do with that cash on media money on cnbc.com. >> all right, thank you so much. we will indeed check that out. forget about profits, we will tell what you really keeps ceos up at night. plus, how about the world according to tarp? time geithner planning a tell-all book about his time in the financial crisis. the power rundown has all of that for you still ahead. [ shapiro ] at legalzoom, you can take care of virtually
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certified. international. and the mail man picks it up. i don't leave the shop anymore. [ male announcer ] get a 4 week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again. and metals are closing right now. sharon epperson is tracking the information for us. >> that would be around 1665 but having broken out above 1680 for the close here so, that traders
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say, is why we aren't seeing a real upside break out. we are seeing nibbling out in the december contracts. but the real devouring of metals is coming from platinum and palladium. investors really want those shares and we are looking at demand possibly increasing by what we see in the auto industry. that is what traders are watching right now. back to you. >> thanks, sharon. all right, trading action here, bob pisani joins me on the nyse. a little bit after pull back. longer term i think is a bullish sign. >> we have hit resistance. like january ended and it sort of like moving side ways now. take a look at the s&p. i'm not sure you call it poppy, not yet. notice, look, 70 points in january. i mean, s&p 45u7b and boom, the minute we hit february essentially we topped out at around close to the 1500 level. we will see how this consolidates or whether it does consolidate in the next few days here. meantime, looking a little
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hoppier with the international etfs. you want exposure it europe, there is vgk. china etfs have been down recently. some of the emerging market etfs like south africa and eem is biggest emerging market etf down there. and those look hoppy in the last few days. the market recovery continues. good old boise cascade. boy, is this a name i remember. bcc, they went public here, $21. priced at 25 and change. still holding up. and sue, i hold a lot of boise cascade plywood when i worked for my father's construction firm in 1970s. i knew that very, very well. i know how much that stuff weighs. >> i bet you do. the move on that stock today, that's fantastic. >> they were taken private in
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2004. now they were back again. >> thanks, bob. from the nasdaq, bertha coombs. >> we've got apple here off the highs. spiked earlier this morning. a lot of speculation as to whether apple might make an announcement about its cash. it did today, about the 25 billionth song downloaded. a number of earnings movers today. very big moves, in fact. zynga, we know about tp we are also seeing take two and sh shutterfly. >> the federal reserve says one of the internal web sites, have been attacked by hackers.
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no critical functions were affected but it does raise est about cyber security at the fed. cyber threats are the biggest concern going these days for corporate executives. mary thompson here with me with details. hi, mary. >> the survey says 86% of the 258 executive surveys consider cyber attacks bigger threat than losing income, property damage and black-outs like at the super bowl. that's sponsored by the insurance giant aig. here is the company's ceo, john gambale. >> who has access to that information. where is it stored? is that information on a laptop? is that laptop leaving the building? >> estimates top a trillion dollars, so how much data is being compromised. in 2011, a verizon survey puts
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it at 174 million files. hackers want information convert need money. immerse firms as well as colleges and universities. protecting information protects their reputation and therefore their income. the to protect themselves, managing director at kroel remember mend they get a third party check up and oversight of it security and for some firms, cyber insurance. basic infrastructure against attacks that a company may not have developed onity own. >> that was going to be my question. one of yours source says a guy from aig. there must be insurance coverage that aig, among others, would offer a company for liability. >> is a market that has grown significantly over the past couple of years. in 1999, it started, now a 500 to $600 million market.
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expected to grow to a billion in the next couple of years because there is growing demand as threats grow. >> let's go to josh lipton for market flash. hi, josh. >> hey, tyler. look at dream works in the red. all special lows. but dow around 4.5%. analysts and piper jaffray not happy with dream works. cutting to neutral. taking the price target down to 18 bucks. warning they say is dream works. release of movies. that means dream works will have just two film releases in 2013. analyst say this is the second time dream works has backed away from that more ambitious three films per year. dream works dropping hard in today's session. sue, back to you. >> josh, thank you. if you have an idea and would you like big money to put behind? ? don't move. see how it all comes together in the power pitch. that's next.
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welcome back to "power lunch." the investigation is growing. deutsche bank suspended five more traders, now seven total, relating to potential manipulation of key benchmark interest rates, sources say. settling for $612 million on criminal charges at 21 traders manipulated yen and swiss libel rates over six years. continuing even after the banks got subpoenaed. now he says the basis for some $500 trillion in interest rate linked securities each year. three banks have been fined nearly $3 billion for manipulating it though nine are said still to be under investigation. then there are the states waging their own legal battles as pensioned and endowments lost key interest income. blackrock vanguard and fidelity could sue for the same reason.
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this might be the tip of the iceberg. tyler? >> thank you very much. today's yahoo! finance question of the day. will you be upset if saturday postal delivery goes way. >> 19% say yes, i depend on the mail everyday. 16% say, i don't get any mail anyway. 65% say, i don't really care. i only get junk mail anyway. >> coming up on screens, we have a lot of interesting segments. for example, we are calling it jurasic techs. like rim, nokia, they are really doing their damndest to come back. we are also looking at jc penney. we had the big interview earlier today. we had one guy who says it is
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coming back. lots of things coming up. back to you. >> thank you so much, mandy. having a big idea may be easy. but turning that idea into a successful company is not easy at all. in our new series, the power pitch, entrepreneurs make their pitch to convince us and the great venture capitalists that they have what it takes to become the next big thing. >> i'm brian sullivan and this is the power pitch. a new way for innovators to get the word out about their companies. we give them just one minute. they give us five minutes of drama and insight into the traul competitive world of venture capital. evan frank is co-founder of one fine stay. takes the concept of living like a local to an entirely new level. it is a super luks idea that has scored him $15 million. here is his power pitch. >> my name is evan, and i'm the
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co-founder as well as general manager of a company called one fine stay. one fine stay is creating a new category of city accommodations. combining cheap hotels with the best parts of staying in someone's real home. guests receive a distinctive home yet fitted without five star quality hotel linens, towels, toiletries and we give them an iphone loaded with local area information to use during their stay. the host receives something fully turn key. when they are out of town, we come into the home, clean, prepare it, welcome kbests on arrival. handle any issues that arise during guest stay and put the home back the way it was after the guest leaves and before they come back. we started this business in may in 2010 in london. we now work with over 500 homes there. i moved back to new york this past january to start one fine stay here. we add successful summer of trading. we work with 80 homes in new york.
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we are excited to grow in new york and beyond. >> evan is on the right side of your screen. he cannot react it criticism or compliments until i say so, which is how we like it. so, kate is founder of author of bold women big ideas. and leader of raising venture capital for female entrepreneurs at spring board enterprises. john snark carnie, cnn.com, editor and all right good guy. kay, your thoughts of evan's idea. >> i want to know how easy marketing led him to consumers and how he get customers. we didn't hear about that. >> i wonder about things like how are they insured. what kind of expenses do they incur from people just damaging homes, appliances, normal wear and tear. >> how competitive is the market where you will make enough profit margin to compensate for down time and things that john just talked about. >> there is one thing i like about it, he doesn't have to
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carry inventory. unlike hotels. >> all right, evan, come into the mix. you will get the chance to defend yourself to the panel. thanks very much for coming in. nice to meet you. >> thanks for having me. >> my first question is how do you defeat mariott, earth b & bs and other competitors already there. >> i don't think this is about killing the hotels. that's not what we are in business to do. i think hotels are great and they have a place in the market. what we have is a need that hotels can't fill. kitchens, comfortable living spaces. we are trying to find something happily between a boutique hotel experience and that of staying in someone's home. >> what is your overhead? do you have insurance costs? how does anyone insure this business at all? >> we today get a fully custom insurance policy, in london and in new york. we need to pro viet a hospitality service. >> people invest in the company and have you tangen venture
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money. >> yes. >> people want to know whab kind of returns can they expect? what is your exit strategy for a company like this. >> we want it build a new category, a global big idea. so i think it is difficult to forecast when exactly this ex woit occur. what we are focused on today is building a great business. >> let's find out what our investors and panel have to say. kay, in, out and why? >> i'm out. and because it is isn't my category of investment. i think when people raise money they have to know their pitching a whaen business they invest in and not an exponentially growing business category. but i like what you are doing. i would be a customer. so good luck. >> evan, you may have lost an investor but gained a very successful customer. >> i would say we did grow 10x last year. >> fair enough. let's go to john carnie. in, out and why? >> i'm in. i have a family. i'm very frustrated with the accommodations available to me
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when i travel with my family. i would use this service and when i look for investment opportunities, i think, what would be useful to me. this is useful. so i'm in. >> competitors, evan, don't want it name them, but dealt directly with the person lending me, selling me, renting me the apartment. they either cancel on me, don't get back to me. frustrating. i've got back to hotels. i am also in. two ins. one out. evan, thank you for joining us on the power pitch. >> so, what do you think? are you in or out on onefinestay. log on to power pitch cnbc.com and last your vote. >> i think it sounds like a great idea, ty. >> very cool. i would have voted in, had i been there. >> me too. we have kids. you know what it is like when you have it find a hotel, the whole thing. >> should you pay for cable programming that you don't watch? coming close to home here. we will discuss whether a cable
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company should be forced to al a cart. and timothy geithner writing a book. what would you call it? how about "treasury island." more on our rundown. great, everybody made it. we all work remotely so this is a big deal, our first full team gathering! i wanted to call on a few people. ashley, ashley marshall... here. since we're often all on the move, ashley suggested we use fedex office to hold packages for us. great job. [ applause ] thank you. and on a protocol note, i'd like to talk to tim hill about his tendency to use all caps in emails. [ shouting ] oh i'm sorry guys. ah sometimes the caps lock gets stuck on my keyboard. hey do you wanna get a drink later? [ male announcer ] hold packages at any fedex office location. [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ]
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it is time for the power rundown. jane wells and brian shactman are our partners today. rumors swirling yesterday that hewlett-packard's board is deciding whether to break up the company. jane, you get first whack at this one. >> you know, i am a turn-around expert. here is my strategy. to extract the most value, meg whitman should do what she does best. not sell parts off. auction them off on ebay with buy it now option that would totally goose the stock price. >> how about you brian. >> nobody seems to want it invest in hardware companies anyway. if they can unlock value and move on from business that seems
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to be, i dent want it say dying, but waning, it is probably not a bad idea. >> i think this is driven by investment bankers. they deglomeration. >> deglomeration? >> deglomeration. even if that's not a word, you know what i'm talking about. eventually, i bet it happens. then 20 years after that, they all get back together again. let's talk about disney. raising rates on cable charges that companies have to pay for espn. espn now up to $5 per person per month and that is whether you watch sports on cable or not. brian, weigh in. >> my wife says every month, $120 -- what? they have metaphorically speaking holding consumers hostage. that's why they won't go al a cart because they have to do it either way. so are a everyone pays it so it is a cash cow.
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until people push back either way, they will hold it. >> i only watch ten channels, espn being one of them. at what point can i create my own package and get rid of the other 700 channels. bravo, housewives, espn, cnn, cnbc, food. that it. >> at any rate, we will see what happens. let's get to the fun one here, tim geithner announcing he is writing a book. twitter is responding with hilarious suggestions for a title. let's see what you like. let's look at title suggestions for tim geithner's book. the world according to tarp. a farewell to arms. that's having to do with adjustable rate mortgages. old man and the sec. fisty shades of pay. that's the semi pornographic
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one. love in the time of a weak dollar. >> you had fun with this. >> the aig of innocence. lonesome dove. taeshry treasury island. we have more here. fear and loathing in the treasury department. timothy geithner and the chamber of secrets. what to expect when you are expecting a bailout. >> i heard this one, crime and no punishment. >> that works. how about you, bri? >> i can't get over 50 shades of pay. and it is a pun but all of the different deals that different companies and banks got. i can tell you, the "power lunch" crew, not only did they do a great job -- i think they add good morning. >> by the way, tyler, 50 shades of pay, a lot of us did get whipped. >> i like it. >> there is also a very funny send up of that paul harvey and
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farmer. they had one on the internet, and god made a banker. go look it up. it is funny, if you're an banker. if you know what i'm saying. another billionaire who does not think it is smart to give his money to his kids. see if you can guess who it might be. if not, robert frank will tell you, next. [ kitt ] you know what's impressive? a talking car.
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but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ no they don't. hey son. have fun tonight. ♪ ♪ back against the wall ♪ ain't nothin to me ♪ ain't nothin to me [ crowd murmurs ] hey! ♪ [ howls ] ♪
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. national transportation safety board causes battery fires on the dreamliner. this from ntsb head who also declined to comment on a report that she was the white house's top choice to be the next transportation secretary. as for boeing, its shares, are currently trading on the upside by just about a third after percent at 7615. ty? >> sue, another billionaire has come out against passing on his wealth to his kids saying that money is bad for children. i would like to have him speak to my son.
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>> not a problem pli kids will have. >> his name is graham tuck well. set australianes who created the market for exchange traded gold. he announced he is giving $50 million for college scholarship. the reason because money would ruin his kids. he said quote lots of money was poisonous to have as they create things themselves. it is a sense of achievement. where is if you just give them stuff it almost destroys their desire to do things. and you end up with kids a lot worse off. is he right? well, there is paris hilton and the sisters who are the stereo typical silver spooners. but there are other examples of rich kids turning out okay and building on their parents' success. we have iva fl ka trump and jared kushnor. now to me, warren buffett said it best. leave your kids enough to do anything but not enough to do nothing.

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